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FORM 6-K


SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549


Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934


For the month of May 2008


EUROSEAS LTD.

(Translation of registrant's name into English)


Euroseas Ltd.

Aethrion Center

40 Ag. Konstantinou Street

151 24 Maroussi, Greece


(Address of principal executive offices)


Indicate by check mark whether the registrant files or will file annual

reports under cover Form 20-F or Form 40-F.


Form 20-F |X| Form 40-F |_|


Indicate by check mark whether the registrant by furnishing the information

contained in this Form is also thereby furnishing the information to the

commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.


Yes |_| No |X|

<PAGE>


INFORMATION CONTAINED IN THIS FORM 6-K REPORT


Attached to this Report on Form 6-K as Exhibit 1 is a copy of the press release issued by Euroseas Ltd. (the "Company") on May 27, 2008 that announces to the delivery of its 16th vessel.


EXHIBIT 1



[f052708esea6k002.gif]



Euroseas Ltd. Takes Delivery of its 16th Vessel

Maroussi, Athens, Greece – May 27, 2008 – Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it has taken delivery of the M/V Maersk Noumea, an intermediate container ship of 34,677 dwt and 2,556 twenty foot equivalent units (teu) built in 2001 in South Korea. As previously disclosed, the vessel was acquired for $43.5 million and comes with a period charter attached with a major container liner company at $16,800 per day until August 2011 with charterer’s options to extend the charter for three additional years at $18,735, $19,240 and $19,750 per day, respectively.

Approximately 100% of Euroseas total containership fleet days in 2008 and about 47% for 2009 are fixed under period charters. Overall, including the Company’s dry bulk fleet, about 92% of the total fleet days in 2008 and about 34% in 2009 are covered under period charters, already concluded spot charters, or, otherwise protected from market fluctuations.

Fleet Profile:

Euroseas Ltd. fleet profile is as follows:

Name

Type

Dwt

TEU

Year Built

Employment


TCE Rate ($/day)


Dry Bulk Vessels

 

 

 

 

 

 

IRINI (*)

Panamax

69,734

 

1988

Baumarine Pool – ‘til end 2008

Spot/Partly fixed


ARISTIDES N.P.


Panamax


69,268

 


1993


TC ‘til Jan-09


$52,000


IOANNA P.


Panamax


64,873

 


1984


TC ‘til Aug-08


$35,500


NIKOLAOS P.


Handysize


34,750

 


1984


TC ‘til Sep-08


$36,000


GREGOS


Handysize


38,691

 


1984


Spot


$44,750

Total Dry Bulk Vessels


5

277,316

 


 

 

 

 

 

 

 

 

 



Multipurpose Dry Cargo Vessels

 

 

 

 

 

 

TASMAN TRADER


1



22,568



950



1990



TC ‘til Mar-12


$8,850 ‘til Dec-08,

$9,500 ‘til Dec-10,

$9,000 ‘til Mar-12


Container Carriers

 

 

 

 

 

 

MAERSK NOUMEA

Intermediate

34,677

2,556

2001

TC ‘til Aug-11

(3 yearly options ’til Aug-14)

$16,800 ‘til Aug 11

$18,735 ‘til Aug 12

 $19,240 ‘til Aug 13

$19,750 ‘til Aug 14


TIGER BRIDGE


Intermediate


31,627


2,228


1990


TC ‘til Jul-09


$16,500


ARTEMIS


Intermediate


29,693


2,098


1987


TC ‘til Dec-08


$19,000


DESPINA P


Handy size


33,667


1,932


1990


TC ‘til Feb-09


          $15,250


OEL INTEGRITY


Handy size


33,667


1,932


1990


TC‘til May-09


$16,500


OEL TRANSWORLD


Handy size


30,007


1,742


1992


TC ‘til Sep/Nov 09


$18,500


YM XINGANG I


Handy size


23,596


1,599


1993


TC ‘til Jul-09


$26,650


MANOLIS P


Handy size


20,346


1,452


1995


TC ‘til Nov-09


$15,800


NINOS
(ex-YM QINGDAO I)


Feeder


18,253


1,169


1990


TC ‘til Apr-09


$12,800 ‘til Apr-08
$13,175 ‘til Apr-09


KUO HSIUNG


Feeder


18,154


1,169


1993


TC ‘til Feb-09


$15,800


Total Container Carriers

10

273,687

17,787

 

 

 

Fleet Grand Total

16

573,571

18,827

 

 

 


(*) "IRINI" is employed in the Baumarine pool that is managed by Klaveness, a major global charterer in the dry bulk area, and also participates in “short” funds (contracts to carry cargo at agreed rates), reducing its exposure to the spot market.

About Euroseas Ltd.

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years. Euroseas trades on the NASDAQ Global Market under the ticker ESEA.


Euroseas operates in the dry cargo, drybulk and container shipping markets. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2000 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.


The Company has a fleet of 16 vessels, including 3 Panamax drybulk carriers, 2 Handysize drybulk carriers, 3 Intermediate container ship, 5 Handysize container ships, 2 Feeder container ships and a multipurpose dry cargo vessel. Euroseas` 5 drybulk carriers have a total cargo capacity of 277,316 dwt, its 10 container ships have a cargo capacity of 17,787 teu and its 1 multipurpose vessel has a cargo capacity of 22,568 dwt or 950 teu.


Forward Looking Statement

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company’s growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels and container ships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.


Contact:

Visit our website www.euroseas.gr


Company Contact

Tasos Aslidis

Chief Financial Officer

Euroseas Ltd.

11 Canterbury Lane,

Watchung, NJ 07069

Tel. (908) 301-9091

E-mail: aha@euroseas.gr


Investor Relations / Financial Media

Nicolas Bornozis

President

Capital Link, Inc.

230 Park Avenue, Suite 1536

New York, NY 10169

Tel. (212) 661-7566

E-mail: nbornozis@capitallink.com








SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


                                  EUROSEAS LTD.

                                  (registrant)



Dated:  May 27, 2008             

 By: /s/ Aristides J. Pittas

                                           

 ---------------------------------

 Aristides J. Pittas

 President